Bulls are taking a breather under new two-decade high, following Tuesday’s 1.3% rally, sparked by fresh risk aversion on recession fears, while the greenback remains underpinned by expectations aggressive Fed, as the US central bank Read more…
Eurozone retail sales rose 0.2% mom in May, below expectation of 0.4% mom. Volume of retail trade increased by 1.2% for non-food products, while it decreased by -0.2% for automotive fuels and by -0.3% for Read more…
UK PMI Construction dropped from 56.4 to 52.6 in June, below expectation of 55.2. S&P Global noted that it’s the weakest rise in construction output since September 2021. House building declined for the first time Read more…
In a speech, BoE Chief Economist Huw Pill unpacked the MPC’s most recent communication about the outlook for monetary policy decisions. The latest statement widened the discussions beyond the interest rate decision at August meeting. Read more…
BoE Deputy Governor Jon Cunliffe told BBC Radio today, “What we expect is, the cost of living squeeze will hit people’s spending, and that will start to cool the economy. We can see signs that Read more…
Bitcoin rose 3.5% on Tuesday, ending the day around $20,400, but continued pressure on risky assets in Asia brought the price of the first cryptocurrency back below $20,000 on Wednesday morning. Ethereum has lost 3% Read more…
USDJPY is moving sideways within a tight range of the 134.25 support and the 24-year high of 137.05, failing to post a higher high, suggesting an overbought market. The RSI indicator is pointing down in Read more…
Not much has changed in the past month as the precious metal is stuck in limbo, confined by equally strong support and resistance forces. Gold has been caught in a balancing act influenced by various Read more…
WTI oil edges higher in early Wednesday after falling nearly 10% previous day (the biggest daily loss since Mar 9), as renewed supply concerns of growing recession signals slashed oil prices. Profit-taking pushed the price Read more…
Daily Pivots: (S1) 160.96; (P) 163.12; (R1) 164.65; More… Intraday bias in GBP/JPY is back on the downside as fall from 167.84 resumes. Firm break of 159.97 support will raise the chance of rejection by Read more…